Envestnet Asset Management Inc. Decreases Position in Xylem Inc. (NYSE:XYL)

Envestnet Asset Management Inc. reduced its position in shares of Xylem Inc. (NYSE:XYL) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 282,285 shares of the industrial products company’s stock after selling 24,106 shares during the period. Envestnet Asset Management Inc. owned about 0.12% of Xylem worth $33,722,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Xylem in the fourth quarter valued at $11,051,000. Independent Advisor Alliance grew its position in Xylem by 12.3% during the fourth quarter. Independent Advisor Alliance now owns 5,199 shares of the industrial products company’s stock worth $603,000 after buying an additional 571 shares during the period. Commonwealth Equity Services LLC grew its position in Xylem by 10.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 82,149 shares of the industrial products company’s stock worth $9,531,000 after buying an additional 7,945 shares during the period. Envestnet Portfolio Solutions Inc. grew its position in Xylem by 12.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 15,719 shares of the industrial products company’s stock worth $1,824,000 after buying an additional 1,741 shares during the period. Finally, Glenview Trust co grew its position in Xylem by 10.4% during the fourth quarter. Glenview Trust co now owns 1,857 shares of the industrial products company’s stock worth $215,000 after buying an additional 175 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on XYL shares. Royal Bank Of Canada upped their price target on shares of Xylem from $143.00 to $147.00 and gave the company an “outperform” rating in a report on Wednesday, April 30th. Stifel Nicolaus upped their price target on shares of Xylem from $140.00 to $141.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. began coverage on shares of Xylem in a research report on Friday, May 30th. They set an “overweight” rating and a $148.00 price target for the company. Citigroup dropped their price objective on shares of Xylem from $152.00 to $134.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Raymond James Financial raised shares of Xylem to a “hold” rating in a research report on Thursday, May 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Xylem currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.71.

Xylem Price Performance

Shares of XYL stock opened at $130.96 on Monday. The firm has a market cap of $31.87 billion, a P/E ratio of 35.20, a P/E/G ratio of 2.38 and a beta of 1.12. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.89 and a quick ratio of 1.41. Xylem Inc. has a 1-year low of $100.47 and a 1-year high of $143.50. The firm has a fifty day moving average of $127.00 and a two-hundred day moving average of $122.61.

Xylem (NYSE:XYL) last posted its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.08. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.04 billion. Xylem had a net margin of 10.54% and a return on equity of 10.12%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. As a group, research analysts anticipate that Xylem Inc. will post 4.65 earnings per share for the current fiscal year.

Xylem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, May 29th were paid a $0.40 dividend. The ex-dividend date was Thursday, May 29th. This represents a $1.60 annualized dividend and a dividend yield of 1.22%. Xylem’s dividend payout ratio is currently 43.01%.

About Xylem

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.